If you've been in the business world for any length of time, you've heard the term "business community". It means "a group of people who work together and share a common goal." However, what exactly does this term mean? What are its advantages? And why should you join it? Below are some reasons to do so. 1. It promotes innovation and collaboration. 2. It provides access to an invaluable network. All three are vital to the success of your business.
It's a noun
The word "business community" is a noun in the dictionary. However, this use of the word is uncommon. While it does have similar definitions in different books, it is not very common. Here's what it means:
It's a platform
The platform economy is rapidly expanding, and platforms outperform other business models in the short and long-term, delivering faster growth, better returns on capital, and higher profit margins. Since the early 2000s, platforms have rapidly overtaken other business models at the top of the economy. By 2020, these companies will comprise five percent of the S& P 500, with most of the top valuations.
Today, the word "platform" is often used to describe a collection of integrated software products. SaaS companies are fond of claiming to be a full "platform" for X, yet their businesses are still linear. In addition, the supply chain is no longer the centralized aggregator of business value. What a company owns matters less than what it can connect. In the digital economy, the platform has become the central aggregator of value, not what it owns.
It's a network
LinkedIn is more than an online resume. With 810 million active users worldwide, LinkedIn is the most popular professional network. This social networking platform unites people who are interested in the same things as you, and is mutually beneficial for both parties. This is because LinkedIn is made up of connecting lines. You will find more like-minded people in a community. They are more likely to provide useful insights than those who don't.
It's a destination
The Grand County Economic Development Department is sponsoring a program for 18 business owners to learn how to market their businesses and reinvent the local economy. The program will consist of a two-day Destination BootCamp in Longmont, Colorado, on October 25-27. Once completed, the participants will receive four months of training to help them implement their new marketing strategies. In addition to the BootCamp, Schallert will also provide specific marketing advice for small businesses.